Examining the Effect of Fear on Investment Decisions and Interpreting It with Psychological Factors: A Research on Turkiye2
Küçük Resim Yok
Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Sosyoekonomi Soc
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
In this study, the effect of fear on investment instruments was examined within the scope of behavioural finance. Turkiye's Financial Fear Index was calculated as an indicator of fear. Then, its relationship with investment instruments was examined by Zivot-Andrews's (1992) Unit Root Test, Gregory Hansen's (1996) Cointegration Test, and Toda-Yamamoto's (1995) Causality Analysis. As a result of the analysis, it was found that there is a relationship between fear and investment instruments in Turkiye. Emotional and cognitive factors were effective in investment vehicle preferences. The effects of loss aversion, regret avoidance and status quo tendency biases were observed among emotional factors. Among the cognitive factors, it was interpreted that the effect of uncertainty avoidance, herd behaviour and conservatism factors emerged.
Açıklama
Anahtar Kelimeler
Behavioural Finance, Investor Psychology, Investment Decision, Fear, Fear Index
Kaynak
Sosyoekonomi
WoS Q Değeri
Q4
Scopus Q Değeri
N/A
Cilt
31
Sayı
56
